Covina, CA, June 29, 2020 (GLOBE NEWSWIRE) — The global small-satellite launch service market accounted for US$ 7.8 billion in 2019 and is estimated to be US$ 24.9 billion by 2029 and is anticipated to register a CAGR of 12.4%
The report “Global Small-satellite Launch Service Market, By Payload (Satellite (Small (less than 1,000 kg) and Large (Above 1,000 kg), Human Spacecraft, Cargo, Testing Probes, and Stratollite), By Launch Platform (Land, Air, and Sea), By Orbit Type (LEO, MEO, GEO, and Beyond GEO), By Launch Vehicle (Small (less than 300tons) and Heavy (above 300 tons)), By End-user (Government & Military and Commercial), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
- In January 2020, Lockheed Martin shipped its third satellite based on the modernized LM 2100™ bus to French Guiana for launch aboard an Ariane V rocket. JCSAT-17 will provide flexible mobile communications services to users in Japan and the surrounding region. Arianespace will launch JCSAT-17 from its spaceport in Kourou. JCSAT-17 is the first Mobile Satellite Service (MSS) communications satellite built on the modernized LM 2100™, which includes 26 innovations that make the satellite more powerful, flexible, and versatile in orbit.
- In June 2020, SpaceX has launched its latest batch of Starlink satellites, growing the constellation by another 58 spacecraft just 10 days after its most recent Starlink launch. That brings the total number of operational Starlink broadband internet satellites on orbit to 538. SpaceX also split the payload for this Starlink mission for the first time, giving up two of its usual Starlink payload complement in order to also carry three Planet Skysat spacecraft on behalf of that client.
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Rising deployment of small satellites to propel growth
SpaceX, a prominent aerospace company, recently declared that it has scheduled the launch of 30 rockets from the period of 2020 to 2021. Such an effort is estimated to drive the small-satellite industry. These launches are cost-operative and easier as compared to the earlier launches that were conventional. One of the key factors of launching small satellites is that they can carry out regular missions for the International Space Station (ISS) as well as for the U.S. military. Hence, the increasing deployment of small satellites, such as CubeSat, is expected to fuel the space launch services market growth in the coming years.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Small-satellite Launch Service Market”, By Payload (Satellite (Small (less than 1,000 kg) and Large (Above 1,000 kg), Human Spacecraft, Cargo, Testing Probes, and Stratollite), By Launch Platform (Land, Air, and Sea), By Orbit Type (LEO, MEO, GEO, and Beyond GEO), By Launch Vehicle (Small (less than 300tons) and Heavy (above 300 tons)), By End-user (Government & Military and Commercial), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global small-satellite launch service market accounted for US$ 7.8 billion in 2019 and is estimated to be US$ 24.9 billion by 2029 and is anticipated to register a CAGR of 12.4%. The market report has been segmented on the basis of payload, launch platform, orbit type, launch vehicle, end-user, and region.
- By payload, the satellite segment is accounted to generate the highest space launch service market share in the coming years. This segment includes several types of satellites such as small satellites, mini-satellite, nanosatellites, medium satellites, and large satellites. However, more than 30 commercials operators are building the small satellites and are planning to install large constellations in the low-earth orbit (LEO) to offer affordable global connectivity solutions and low-cost imagery.
- By launch platform, the land segment accounts for the highest space launch services market share due to the advanced infrastructural developments that are promoting the smooth operational performance of space launch services.
- By orbit type, the LEO segment is projected to be the highest segment in the forecast period due to the growing demand for observatory space research and laboratory research.
- By launch vehicle, the small-lift launch vehicle segment is expected to be the fastest-growing segment due to the rising usage of small satellites for various communication applications.
- By the end-user, the commercial segment is expected to hold maximum share due to growing funding from the private sector, increasing usage of GPA, and communication-based facilities.
- By region, North America accounts for the largest market in the space launch services and is estimated to dominate over the forecast period. Increasing research and development activities along with growing space programs by NASA to launch technologically advanced space services is driving the growth of the target market in this region.
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The prominent player operating in the global small-satellite launch service market includes Antrix Corporation Ltd., Mitsubishi Heavy Industries, Space Exploration Technologies Corp (SpaceX), The Boeing Company (United Launch Alliance), AIRBUS S.A.S (Arianespace), Safran (Arianespace), State Space Corporation ROSCOSMOS, Lockheed Martin Corp. (United Launch Alliance), Rocket Lab USA, S7 Space (Sea Launch), and Starsem.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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